Tag - landlord

The Blame Game is a No-Win for Landlords

If you have spent more than 30 seconds in the last year watching cable news, you are more than familiar with something called “the blame game.” Regardless of political party affiliation, age, race, gender, sexual preference or any of a host of other categories, it appears that our society has become a place of great divide. As a landlord you are not immune...

More about Trustees

By Jeffery S. Watson My prior email on “Trusting Your Trustee” generated a lot of feedback, so I want to give you more information and clarity. One of the questions I was asked is, “Do trustees get a nominal fee for handling this type of fiduciary duty?” The answer is yes, a trustee should be paid a reasonable fee for their fiduciary duty and...

Here Is an Ounce of Prevention

By Jeffery S. Watson Dear Investor, The second half of 2021 real estate taxes will be due and owing either this week or the next for many of you. I want to share something I have noticed recently. I have had three similar cases come across my desk in the last five weeks, which means it’s something that deserves attention. Investors who own properties that...

Don’t Leave It Up to the Judge!

An experienced landlord has learned the hard way about the importance of coming to an agreement with a resident or former resident PRIOR to going before the judge. Here's the landlord's account in his own words of what happened just this month when he and a resident went to court regarding non-payment of rent. [IN] Had eviction court yesterday. Been 6...

Curtains for Closet Doors

Curtains for Closet Doors (by WMH [NC] ) Posted on: Feb 10, 2022 9:34 AM I do hate swinging doors, they take up so much space and we have small places. Bi-folds are terrible, always getting broken and falling off. Sliding barn doors only work in certain spaces. Ditto pocket doors. In our small cottages we have been using curtains on closets for...

Can You Work With Me

[MO] Applicant: "Can you work with me on (the 1st month rent/the deposit)?" Me: "No, we already have contractors." or just "No". [FL] No, I’m not in a position to be your lender and require move-in funds to be paid in full before keys are turned over. [NY] No. I actually have it in my ads and when I discuss about the apartment "first and security...

Don’t Wait Long!

A landlord mentioned on the MrLandlord Q&A forum that they receive a lot of inquiries (in one particular case, over 1,000) and hundreds of applications. However, by the time he gets back to a couple of the truly qualified applicants, they have already found another rental home. I offered the following suggestion: How long do you take before you get back...

What Are Your Requirements

What are your requirements AL Have a lot of folks online, asking "what are your requirements". Scared to answer that in writing for fear of inadvertedly violating something...and, of course, I hate to tell them what lies to tell....So I just reply with here's our application. My question to ya'll: Is it safer to have written criteria? If so, do you PROACTIVELY...

Checkbook LLC’s Just Took a Major Hit in Tax Court

Please share this far & wide, it has massive implications for SDIRA investing with "Checkbook LLC's". This is not a proposed law. This is a Tax Court ruling and is, therefore, the law today. Here are the basics: The taxpayer had an LLC 100% owned by her IRA. She was the manager. The LLC bought gold coins and stored them in her...

IRS Dedication More Attorneys to Attach Syndicated Conservative Easements!

IRS Dedication More Attorneys to Attach Syndicated Conservative Easements! by John Hyre The IRS announced (informally, at a CPA conference) that it is dedicating more attorneys to go after and litigate syndicated conservation easements. In such cases, syndicators acquire property in an LLC or LP, contribute a portion of it to a non-profit for natural or historical conservation purposes, and generate...